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and republican senator from oklahoma tom coburn. also we check in with cnbc's jim cramer, hear about the economic stakes should washington fail to avert fiscal disaster by the end of the year. plus, what is the future of the gop after a stinging defeat for romney and the republicans? and how will president obama govern in a second term? we'll talk to a newly elected document congressman, joaquin castro. plus republican strategist steve schmidt, presidential historian doris kearns goodwin, nbc's political director and chief white house correspondent chuck todd, and the "washington post's" bob woodward. >> announcer: from nbc news in washington, the world's longest-running television program, this is "meet the press." with david gregory. >> and good sunday morning. the newly re-elected president's message on friday, get back to work. but the focus of that work and on that work is now overshadowed by friday afternoon's resignation of cia director david petraeus, which sent as you know shock waves through washington. new details emerging now this weekend about the fbi investigation that led to the di
from new york chuck schumer and oklahoma republican senator tom coburn. senators, welcome, both of you back to "meet the press." senator schumer, let me start with you this morning. dianne feinstein, the senate intelligence committee chairwoman indicated this after the news of petraeus. "i wish president obama had not accepted this resignation but i understand and respect the decision." do you wish he had not res yind over this? >> i think i would leave that decision to general petraeus. he's been such a hero in many ways. i've known him. he's a new yorker. i've spent time in iraq with him. your heart breaks for him and his wife. if he felt it was appropriate to resign, i leave it with him. >> senator coburn, your thoughts on that. >> i think leadership matters and setting an example. i don't think he had any choice given the sensitive nature of everything he does that he could have any questions about his character's integrity so i think he did the honorable thing. >> senator coburn, let me stay with you. the benghazi questions that bob woodward just mentioned with new information thi
from armored cars to flying drones. republican senator tom coburn of oklahoma had his office follow the money and released the findings exclusively to nbc news. how much money are we talking about? >> over a period of years, billions. >> reporter: billions of dollars? >> um-hum. >> reporter: nearly $35 billion over the last ten years all from homeland security grant programs meant to help communities fight terrorism. coburn's report says taxpayers paid for things like a $45.6 million surveillance camera system in chicago that doesn't work, a $6.2 million program to read license plates in california, and $6,000 for sno-cone machines in michigan. they said that could make ice in case of emergency. do you blame communities for abusing the system? >> we have created a culture in our country that says you don't have to stand on your own, the federal government will come in, and the federal government's all of us. i don't blame communities. i blame members of congress. >> reporter: craig fugate is the head of fema which distributes the grants. he says the vast majority of grants are helpi
. >> very interesting. we're going to have senator tom coburn on that very subject later in the show. many thanks to john harwood coming from washington, d.c. now, with everyone in washington talking tax hikes, whatever happened to spending cuts? that's really my question. spending cuts and limited government and private sector free enterprise and growth. here now is cnbc contributor and democratic vat gist keith boykin, a former clinton white house aide and best selling author and talk show host larry elder, out with a new took, "dear father, dear son." larry already the show talking about the book. there may be a deal on taxes, i have no idea, but i don't hear any reductions in spending. wasn't $1.2 trillion sequester, larry. that seems to be gone, the across-the-board cuts. i want to ask you do you think it's possible that this whole exercise could wind up enlarging government, increasing the entitlement state and not doing what many of us want it to do? >> let me think about that. i've thought about that. unfortunately, larry, you are right. one of the republican favorite exercise acco
an institution many think is broken. one powerful senator had this advice for the voters. >> tom coburn: the best thing that could happen is all of us lose and send some people up here who care more about the country than they do their political party or their position in politics. >> kroft: senator tom coburn of oklahoma is one of the most influential and conservative members of the senate. he's blocked hundreds of pieces of legislation that he thinks are a waste of money, but he is also one of the few republicans-- or democrats, for that atter-- willing to cross party lines to help break the political gridlock that's kept the senate from dealing not just with big issues but with basic senate business. >> coburn: this is the first time in 51 years the senate has not passed a defense authorization bill, which directs where the... the defense spending is going to go, and in terms of the priorities. our commanders need that. >> kroft: what about a budget? >> coburn: same thing. we haven't done that in four years. >> kroft: the inaction certainly can't be blamed on a pressing legislative schedule. t
senator tom coburn, a republican from oklahoma up on capitol hill. in the report he accuses the department of defense of really becoming the department of everything. he says the pentagon's wasting a lot of money and he's found examples in the pentagon spending money on things like a study for a question of did jesus die for cling-ones, too. they've sponsored a discussion series in which they talk about the implications for christianity of the discovery of extraterrestrial life. they also financed studies of a new type of beef jerky that's flat, kind of like a fruit roll-up instead of round like a slim jim. all sorts of other details in this report. but in all seriousness, what coburn has done here is sort of laid out the pentagon's overhead budget just the overhead next to the gdp of several major nations. take a look at where the pentagon's overhead ranks. if you ranked it pass a country, it is just below portugal there and just above the country of israel if you look at dod overhead as a separate country. then coburn has some recommendations here for key areas to make savings, including
it, all who signed the pledge. bob corker, tom coburn, and john mccain. what is going on? it certainly looks to a layman that there is a desperate scramble to find a way to raise revenue in a cbo-scoring way that would not be seen as violating the pledge. the question is, is the pledge of losing its magic? >> i take very strong exception to taking this poll seriously. because if you ask people, the vast majority of whom are not going to be subjected to this tax, and they are being told that somebody else will have to pay. and if you discover in the process that only 60% of the voters are in favor of that, i think it speaks for itself and speaks very well of the american people. if you have a public opinion poll where the voters would be asked how would you feel if we cut all of your taxes by half, and those -- also give your children free tuition, except we would have to have a referendum on exiling barack obama from the united states i would be interesting to hear the results of this poll. polls like that in my view should not be part of the serious conversation. everyth
republicans are saying if you do that, we the minority are going to burn the place down. senator tom coburn of oklahoma saying, "i think the backlash will be severe. if you take away minority rights because that's what you're doing, you'll destroy this place. if you destroy the place, we'll do what we have to fight back." john cornyn says if democrats change the rules, it it will shut down the senate, it's such an abuse of power. you might ask how their e threats of a shutdown differ materially from the shutdown senate now when the minority will not allow a majority vote on anything giving them the power to control the senate. we called the two senators and asked specifically what they propose to do if they manage to tweak the filibuster. senator cornyn's office got back to us, but not with an answer. senator coburn did not respond, but he did give politico.com a hint of what he might do. "i will filibuster any way i can. you ought to be willing to get out and earn it. i don't have any problems with that. he says he will respond to being told he has to old-time filibuster by really old-time
senator whitehouse and senator coburn. the presiding officer: is there objection? without objection. mr. whitehouse: mr. chairman, may i ask of the chairman if the bill -- if he would like the amendment called up now and made pending? or are we simply going to have discussion on it? mr. levin: no, no. we expect now the senator will be calling up his amendment. may i, though, correct what i said before. it is possible that there will be a need for a roll call on the whitehouse amendment. the presiding officer: very well. mr. whitehouse: first, mr. president, let me ask unanimous consent that the pending amendment be set aside the senate is not in in order to call up amendment 3180. the presiding officer: without objection, the clerk will report. the clerk: the senator from rhode island, mr. whitehouse, proposes an amendment numbered 3180. whitehouse -- mr. whitehouse: i ask to dispense with further reading of the bill. the presiding officer: without objection. mr. whitehouse: thank you, mr. president. let me thank chairman levin and ranking member mccain for their patience and persistenc
, the total senate will unwind. >> holman: oklahoma republican tom coburn contends that revising the senate rules would go against what the founders intended. >> the united states senate was set up different than the united states house. they had two things in mind. one is to slow processes down, so that more thought, rather than reaction to the populace, would go into legislation, a cooling period. and the second was to protect minority rights. >> holman: and he says changing the rules would strip away those rights. >> once you start that, what you're going to have is the house of representative in the senate. minority rights will ultimately never be protected and you'll just have another house of representatives. if we're going to do that, why don't we just go to a unicameral legislature, because that's what you're going to have. >> holman: not so, says iowa's harkin. >> if they want to slow things down or if they want to offer amendments, the minority should have the right to offer germane amendments to bills that are on the senate floor. but the minority should not have the right or the
, and that is when you have this moment at the white house where he has got all these people, tom coburn on one side, since then and jimmy dimond and jeff immelt on the other side, saying we need to move forward, some of these things i find unpalatable, but now speaker boehner , what are you going to do? when will that plan be there? it ought to be there now, presumably. their whole idea is we emerge with this right after the election, but my guess is within a week we will see obama trying to lay the groundwork for making this happen. >> you mentioned the gang of 40 and the gang of eight. --se are key to t zeropo >> the gang of eight is an expanded version of the gang of six. am i like the gang of three. >> who? >> tom coburn, saxby chambliss, we have kent conrad, who is still there, and dick durbin, and mark warner, and they have added another democrat who i will think of before we're done here. michael bennett. they have been working with a total of 40 senators, 20 on each side, who have been participating on and off to pull all this together. the framework is the same framework that we have had f
; nelson, 3073 involving widows and orphans; and coburn 3254 involving second amendment rights for veterans. now, my request is that we have unanimous consent -- i will make a unanimous consent request now, that tomorrow morning, whatever time is allotted for morning business by the leaders, after that -- no morning business -- that we then proceed. now, we don't have time agreements yet on these five. that's going to take a few minutes. but my unanimous consent request is that immediately after prayer tomorrow, that we move to these five amendments and we'll allocate as little time as we can tonight after this u.c. agreement is agreed to, if it is. mr. schumer: reserving the right to object. would this allow a vote, an up-or-down vote on the coburn amendment? would this allow an up-or-down vote on the coburn amendment? mr. levin: this will. mr. schumer: i object. the presiding officer: the objection is heard. the presiding officer: under the previous order, the question is on amendment number 3018, offered by the senator from california, mrs. feinstein. the majority leader. [inaudible] the
tom coburn of oklahoma. he says the department of defense has become the department of everything these days. take a look at some of the spending that he found buried inside the pentagon's budget. coburn said he found spending by the pentagon and other departments of funding studies of babies interacting with robots, the air force spending money on studying the color of dinosaur feathers and darpa spends $6 million on a study of storytelling techniques and the brain. coburn said he or she identified about $67.9 billion worth of spending that he thinks over ten years can be easily cut out of the pentagon budget. and i want to leave you with one of the other items that he found here. this was kind of a whopper to a lot of us here in the office. he found that the pentagon had financed a seminar discussion and the topic of that discussion was, did jesus die for the cling-ones, too? and it was a discussion of whether or not -- what the implications are for christianity if extraterrestrial life is discovered? those are your taxpayer dollars at work. >> eamon jarvis, thank you very much.
to avoid the cliff. meanwhile, senator coburn is calling for democrats cut and democrats to find savings in medicare and medicaid. the oklahoma republican admits it's normal for each party to protect the sacred cows. >> i think that is normal. beare not in normal times. >> senator coburn says the pentagon needs to stop being what he calls department of everything. he says the savings wouldn't be huge. $6 billion a year but there was a time when it was real money. chris? >> chris: there was a time, wendell. thank you. reporting from the white house. stocks were down again today, the dow lost 28.5. the s&p 500 dropped 2. nasdaq fell 10. south africa president pushing back from comments from a lawmaker critical of lack of leadership in face of widespread worker strikes. president zuma called the claim totally out of order and said the leadership comes in many different forms. senior foreign affairs correspondent greg palkot looks at the continued turmoil in south africa and what is behind it. >> there were violent protests in south africa this week. striking farm workers clash with police,
and defense programs and you know, maybe there's room for some cuts. we told you thursday, senator tom coburn released an oversight report. he believes is frivolous pentagon spending, department of everything. he found a pentagon grant for a smart phone app when it's time for a coffee break. and a price tag $100,000 included a session, did jesus die for clingons, too? and 1 1/2 million dollar to develop a new kind of beef jerky and coburn says, quote, using defense dogs to create beef jerky or "star trek" does nothing for our nation. we told you that montana state representative jerry o'neal wants to be paid in cold and silver coins according to a strict interpretation of the constitution. well, that request has now officially been denied. a state legislative attorney said, o'neal could introduce a bill alawing him to be paid in gold and silver, but the republican lawmaker does not intend to go that route. over the past couple of weeks, many in the northeast experienced the worst nature has to offer, as well as the best mankind has a give. there are many wonderful stories about the recovery e
including oklahoma senator coburn, arizona's john mccain, south carolina's graham, idaho's crapo, tennessee's alexander, and georgia's sam bliss. it is not that they have all become antipledge, more like, well, antisweeping pledge. particularly the party of that pledge that called for resisting any move to end any tax break. to hear georgia's chambliss, too rigid, too inflexible, noting times have changed significantly, and i care more about my country than i do about a to-year-old pledge. if so, so what now? norquist in a second, to bob on republicans increasingly happy to make grover the grinch. what do we make of this? what is going on? >>guest: republicans lost the election. it was about tax policy. most republicans want to get a deal they have to give something up. they will want something in run so if they bend on taxes they will want an entitlement reform, so, that is the rub, but, republicans do not want to raise the rates with you they want to eliminate the tax loopholes and bay down the debt. that would break grover's pledge. >>neil: i have the pledge, something that a lot of the
in their heels than to reach a compromise? tom coburn is the republican senator from oklahoma, and joe klein is a columnist for "time." senator, i don't want to abuse your presence. my children think you're the greatest. i have a couple kids, one who worked on the debt commission and another one who just loves you for some reason. let's find out why. it seems to me if you look at the numbers, just arithmetic here, right now the government is taking in 15.7% of the gdp in the current fiscal year and spending 22.9% of the gdp. common sense tells us if we're going to get to 20, it seems like getting maybe to 20, maybe some liberals want to bid more, conservatives want to bid less. you have to come in both directions. your thoughts? >> i agree. the problem, chris, is we haven't had long-term thinkers in congress for a long time, and if you really look at it, the last 30 years we've lived off the next 30. i think the question is any combination that gets us out of the problem and onto a road of recovery in our economy and recovery of the future for our kids is a good combination. but the point ha
outcomes. >> this weekend you can talk with oklahoma senator tom coburn about the fiscal cliff, affordable care act and the future of the republican party on book tv's "in-depth." the senator has written several books and reports. join the three-hour conversation with your calls, e-mail, tweets and facebook, it's for medical doctor, author and senator tom coburn on book tv's "in-depth." on c-span2. >> coming up today on c-span, live from capitol hill with "washington journal." 11:30 a.m., senate assistant majority leader dick durbin talks about the efforts to resolve the so-called this cliff. at 2:00 p.m. eastern the u.s. house returns from banks given to work on legislation regarding homeland security and border security -- house returnsm
of money, but if you look at government waste, even senator tom coburn has identified $20 billion in waste. has anybody thought about getting the revenue from waste, seeing just how much we really need? >> the problem has usually been if you rdise taxes, the spending cuts will come later, and they never seem to manifest. >> greta: but not even spending cuts. actually waste. >> well, yeah, waste and fraud and abuse are the famous three horsemen of cuts. but the fact is that many times they're harder to get to it would afternoon. i think tom coburn has done a great service by identifying a lot of duplication and waste in the government, including in the pentagon. i'm a defense hawk, but the pentagon needs to do a better job when it comes to handling the people's money too. you can't close that gap between spending and the debt by just raising taxes on the two upper income tax breaking news, you havbrackets.you have to deal wig entitlements like medicare and social security. >> greta: what do you think is going to happen? will we go over the fiscal cliff, or a last-minute hustle and something
? why don't we start with something that senator coburn announced today. there is so much that can be saved by cutting nondefense spending, things like a smartphone application. it these are the things we are spending money on. they cut that we can make. >> so we have to do new cuts and paperwork. we have to pay for all of the spending we have done for the last 12 years. and we are kind of all in this together. so i don't think that, you know, i have spent the last two days talking to both sides of the senate. i have spent time talking to representatives in the house and white house. the most important thing we need to do in paying for this is to make sure that we don't push ourselves back into a recession. >> i agree with you completely. >> solar group, the page you're millionaires, we understand that our tax rates are low. they are historically low. much lower than the middle class. we are willing to take some pain on us. and also help pay for part of this. melissa: you are willing to put more money on the table to pay higher taxes? you think the other side is really willing to m
house where he has got all these people, tom coburn on one side, simpson and jimmy dimond and jeff immelt on the other side, saying we need to move forward, some of these things i find unpalatable, but now speaker boehner, what are you going to do? when will that plan be there? it ought to be there now, presumably. their whole idea is we emerge with this right after the election, but my guess is within a week we will see obama trying to lay the groundwork for making this happen. >> you mentioned the gang of 40 and the gang of eight. these are key -- >> the gang of eight is an expanded version of the gang of six. i like the gang of three. >> who? >> tom coburn, saxby chambliss, mike crapo, we have kent conrad, who is still there, and dick durbin, and mark warner, and they have added another democrat who i will think of before we're done here. michael bennett. they have been working with a total of 40 senators, 20 on each side, who have been participating on and off to pull all this together. the framework is the same framework that we have had from all of these groups. it is a total
chambliss and mike crapo and tom coburn and lisa murkowski and susan collins, and a number of others, are going to be moving somewhat in a different direction. the house, however, if you parse banners worked a little bit further, it was we know that's a more reverent of we can get them through more tax cuts. it was cut the rate and the revenues will come in. there is no commitment to something more than that and you have 90% or more of the house republicans who continue to stand by grover norquist pledge. that makes that kind of a plan emerging problem in. and the question becomes what they get a plan together, and get the senators which would probably pass the senate with 65 or 70 votes, in which i believe would be immediately endorsed by obama, to even bring up for a vote in the house where bring it up for a vote means that almost certain it will have to get past, come with more democrats supporting it and republicans. that means mitch mcconnell -- excuse me, that means john boehner falling on a grenade. now, you can do that but when you have eric cantor and kevin mccarthy eager to
. stuart: we listened to you. we have senator tom coburn releasing another report on government waste. the department of defense spending billions on nonmilitary research. i will call them outrageous projects. jesus saving fictional space aliens. can you believe this? money was spent on that. find out how much. that will be new at 10:00. gap went down the tubes. however, the stock today is way up. >> went down the tubes? >> it lost favor. >> it really was out of favor. the story has completely turned around. number one on the s&p, quarterly profit jumped up again. this quarter up 60%. they put in a turnaround plan last year, they ousted the top designer and expanded abroad and you know how much they're a year to date? 85%. anyone of our viewers say 85%, i will take it and maybe even pay taxes on it. stuart: thanks very much. the dow is dead flat and as we always say time is money so here is 30 seconds worth of that, those 5 our energy drinks mentioned in 13 deaths reported in the last four years, with these avoid these drinks. where should you put your money? gold, treasuries, risk in
the last 12 years. melissa: why? why don't we cut spending? why don't we start with senator coburn put out something today, talking about wasteful spending, 67.9 billion that can be saved by cutting non-defense, defense spending. smartphone app to alert users when to take a coffee break. these are things we're spending money on. put out report, big, big cuts we can make. why not do that first. >> sure. we have, we have to do, we have to do cuts and pay for it right? so all of it, we have to pay for all the spending we've done for the last 12 years and we're kind of all in this together, right? it has got to be paid for. i don't think that, you know, i've been, i spent the last two days talking to both sides of the senate. i spent, talking to representatives in the house, to the white house. no one has a magic bullet to this. we need to do, the most important thing we need to do in paying for this right now make sure we don't push ourselves back into recession. melissa: right. i agree with you completely. so how do we do that. >> yeah. so, we, so our group of patriotic millionaires we under
and saxby chambliss and mike crapo and tom coburn and lisa murkowski and susan collins and a number of others are going to be moving somewhat in a different direction. the house however if you parse words a little bit further west we know there has to be more revenues than we can get them through more tax cuts. it was, cut the rates in the revenues will come in. there is no commitment to something more than that and you have 90% or more of the house republicans who continue continues to stand by grover norquist pledge. that makes that kind of a the plan emerging problematic and the question becomes will they get get a plan together and get those senators which could probably pass the senate was 65 or 70 votes in which i believe would be immediately endorsed by obama to even bring it up for a vote in the house where bringing it up for a vote means that almost certainly it will have to, if it passed, come before democrats support and then republicans. that means john boehner falling on a grenade. you can do that but when you have eric cantor and kevin mccarthy eager to reach under you
with oklahoma senator tom coburn about the fiscal cliff, affordable care act and the future of the republican party on booktv's "in depth." he has written several books and reports including his latest, the debt mama. join our conversation, your calls, e-mails and tweets and facebook comments for medical doctor, author and senator coburn on c-span2. >> [inaudible conversations] >> good morning. if i could ask are going to take their seats. welcome to the arms control association the national american council titled iran 2013, making diplomacy work. i'm the president of the national american council and welcome to all our viewers on c-span as well. it's been almost exactly four years since president obama's a famously extended his hand of friendship and hope the iranians would unclench their fists. yet today after a few rounds of diplomacy, plenty more sanctions and centrifuge, there are plenty of clinched this on both sides and very little talk about friendship. there's been an attempt at diplomacy but political constraints on both sides have been difficult to advance an old habits are diffic
. >> you can talk with senator tom coburn on "in depth." the senator has written several books. join us for medical doctor and author tom coburn live on sunday on c-span2. "washington journal" continues. host: christine owens is here to talk about long-term unemployment benefits. part of the so-called fiscal cliff talks. let's talk about what they are. guest: federal benefits that kick in when someone has used up their state unemployment benefits and is unable to find a job. that person can collect additional benefits to this program. these benefits may range from 14 weeks or as many as 73 weeks counting the state benefits and the federal benefits. it is a crucial lifeline of support. host: what is the difference between this program and traditional unemployment benefits? guest: this is a program that congress has adopted in the past when the recession had officially begun. it is designed to reflect the fact that we're in a national crisis of high unemployment and limited job creation. it 26 weeks of state unemployment benefits are not going to be enough for most unemployed workers beca
senator tom coburn told chris matthews about his vision for averting the fiscal cliff. take a listen. >> there's no question we can have the rich pay more, but that won't solve our problem. >> i agree. >> and with that comes negatives. the real problem is is you've got an entitlement system that's out of whack, and the demographics are exaggerating that. and you've had discretionary spending increases, you know, the budget of this country this year is twice what it was 11 years ago. and a good portion of that is discretionary. some of it, $100 billion a year is the war, but the rest of the government has grown. so we have to do both. and we have to make sure that whatever we do does not hurt us but gets us on the way to recovery. >> be sure to watch "hardball" with chris matthews weekdays at 5:00 and 7:00 eastern only on msnbc, the place for politics. in >>> authorities in cairo are bracing for more protests as outrage grows as morsi's decision to grant himself sweeping new powers. nbc's ayman moyheldin joins us with the latest. ayman, good morning to you. >> reporter: good morning.
with the same or better outcomes. host: this weekend you can talk with tom coburn -- >> this weekend to can talk to tom coburn on tv "in debpth." join the conversation with your calls, tweets an e-mail to comments -- and e-mail to comments. >> "washington journal" continues. host: we are kicking off our series today looking but the fiscal cliff negotiations, looking specifically at the bush era income tax cuts that were passed in 2001, 2003, and again in 2010 under this administration. joining me is the zachary goldfarb of "the washington post." when did the tax cuts take effect, and why? >> the initially took effect -- guest: date initially took effect in 2001 and 2003, and the idea was to of the dual-fold. at the time, we had huge surpluses because of the strong economy over the 1990's and deficit-reduction plans put in place over the 1990's. the government had the choice to spend that on programs, or returned it to tax payers, and the bush administration decided to return the money to taxpayers. over the following year's tax rates were lower. it was renewed in 2010 in a tax deal between presi
talked about it or something very much to like it, all who signed the pledge. bob corker, tom coburn, and john mccain. what is going on here? it certainly looks to a layman that there is a desperate scramble to find a way to raise revenue in a cbo-scoreable way that would not be seen as violating the pledge. the question is, is the pledge losing its magic? >> i really take very strong exception to taking this poll seriously. because if you ask people, the vast majority of whom are not going to be subjected to this tax, and they are being told that somebody else will have to pay it -- and if you discover in the process that only 60% of the voters are in favor of that, i think it speaks for itself and speaks very well of the american people. if you have a public opinion poll where the voters would be asked how would you feel if we cut all of your taxes by half, and also give your children free tuition, except we would have to have a referendum on exiling barack obama from the united states, i would be interesting to hear the results of this vote. polls like that in my view should not b
amendments perhaps and to have senators debate amendments, and i know that senator coburn will be here between now and 6:00 to debate the leahy amendment, and we don't need to protect him further since the time is equally divided and he can have part of the half-hour time. but it is my hope that people who want us to dispose of amendments will come here after the 6:00 vote and bring these amendments to our attention, see if our staffs can make progress, clear amendments, maybe package some votes for tomorrow morning. we can make progress after this vote if our colleagues will cooperate with us. mr. mccain: thank my friend, and i do not object. the presiding officer: without objection, so ordered. mr. leahy:man, i call up amendment 2955. officer the clerk will report. the clerk: mr. leahy proposes an amendment numbered 2955. mr. leahy: i ask unanimous consent further reading be dispensed with. the presiding officer: without objection. mr. leahy: mr. chairman, i also ask unanimous consent that the floor privileges during this vote and subsequent votes on the bill be granted to bruce cohe
and save a significant amount of money. >> you can talk with tom coburn about the fiscal cliff and the future of the republican party on "in depth." the senator has written several books and reports. join us for senator tom coburn, live sunday at noon eastern on c-span2. "washington journal" continues. host: we are looking at various aspects at the so-called fiscal cliff. joining us for the discussion is steven sloan. he is with politico. could you define what a tax credit is and how that differs from a tax deduction? guest: credits and deductions are used to lower somebody's tax bill. if you have it $1,000 tax bill, -- basically a reduces taxable income, so it takes the taxable income off the top. if you have a $1,000 tax deduction, that is basically a to under $50 deduction -- $250 deduction. host: on their tax credits that specifically affect families? guest: some that have expired that are part of the fiscal cliff package. they get much less attention than the bush tax cuts. they are part of the packet of decisions that congress has to make. host: we can go into debt but to
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